PMF IAS Current Affairs
PMF IAS Current Affairs

Paris Club, India and China are not members of the Paris Club

Table of contents

Paris Club

  • Context (TH): China will not join the official creditors’ platform negotiating a common debt treatment plan with Sri Lanka.
  • In May 2023, 17 countries that have extended loans to Sri Lanka formed an official creditor committee to discuss Sri Lanka’s request for debt treatment.
  • India, Japan, and France co-chaired the official creditor committee.

Paris Club

  • The Paris Club is an informal group of official creditors, primarily Western nations.
  • Its role is to find sustainable solutions to the payment difficulties experienced by debtor countries.
  • As debtor countries undertake reforms to stabilise and restore their macroeconomic and financial situation, Paris Club creditors provide an appropriate debt treatment.
  • Currently, Paris Club consists of 20 members.
  • India and China are not members of the Paris Club.

Paris Club Members

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